In Winner's Never Cheat, billionaire Jon Huntsman says that everything we need to know about straight shooting is based on simple values we learned in the sandbox. Play by the rules. Keep your word. Winners never cheat. Written by anyone else, his simple wisdom of straight shooting might appear to be naïve in today's dog-eat-dog world of business. But Huntsman, as he describes in his book, has applied these principles throughout his career — from the West Wing of the White House to multimillion dollar deals in Thailand. He has become a respected business builder, philanthropist and one of the wealthiest men in America.

Throughout the book, Huntsman uses his own experiences to illustrate how he has applied these principles — from the heights of power and success to a downturn that almost swept away his business. While serving as White House staff secretary during the Nixon Administration, Huntsman was asked by HR Haldeman to "help" the president by sending Huntsman workers surreptitiously to work at the factory of a political enemy. The idea was to spy on the rival to gather dirt about his use of illegal immigrants that could be used against him. Huntsman started to make the call and then hung up the phone. Even in a position where he was expected to serve the most powerful leader of the free world, Huntsman followed his own moral compass. His independence led to his departure from the West Wing 6 months later, but he was probably the only member of Nixon's senior staff who was not hauled before the congressional Watergate committee or grand jury. What looked like something he had to do at the time was clearly something that he was wise to refuse.

In the 1980s, when Huntsman Chemical opened a joint-venture plant in Thailand with Mitsubishi, Huntsman received a call from his partner asking for his share of $250,000 in annual "fees" that were paid to corrupt government officials. Huntsman, who had invested $30 million in the project, not only refused to pay these bribes but immediately sold its interest in the project at a discount. It seemed like a steep price to pay for holding to values, but the subsequent Asian economic crisis proved it a sage business decision as well. And after that, the word was out that Huntsman would not pay bribes to do business.

While he advocates straight shooting honesty and integrity — and unabashedly references childhood sayings such a "liar, liar, your pants are on fire" or "cross my heart and hope to die" to remind us of the values we held as children — there is nothing "soft" in Huntsman's approach. He makes it clear that he is a tough negotiator — and in fact enjoys the process. As he writes, "it is okay to negotiate tough business deals, but do it with both hands on the table and sleeves rolled up."

In the book, Huntsman also looks at the qualities of successful leaders and the need to keep the corporate lawyers in check in order to "keep your word." He emphasizes the importance of surrounding yourself with skilled advisors rather than "yes men" and keeping the desire for revenge in check. He urges readers to treat everyone with respect and stresses the importance of family and philanthropy.

The book presents a refreshing antidote to a jaded world of scandals at Enron and WorldCom or the cutthroat competition seen on The Apprentice. While Donald Trump's reality television show begins with the slogan that "it's not personal, it's business," Huntsman makes it clear that business is very personal. It is all about character and a personal "moral compass."

As talk show host Larry King notes in his Foreword to Winners Never Cheat, Huntsman is perhaps "the most remarkable billionaire most of America has never heard of." He has quietly built a sweeping multi-billion dollar global business across 43 companies and the largest private chemical company in the world (although it recently went public). Throughout his career, Huntsman has carried a simple wisdom from his youth in rural Idaho. It is clear from this book that he succeeded not, as some might think, in spite of these straightforward values, but because of them. As he writes, "there are no moral shortcuts in the game of business or life."

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This month's articles:

• In the Classroom
  What really motivates people? Forget the mission statements, and focus on what people value, says Professor Chuck Dwyer.
  
  
• Wharton School Publishing
  Self-made billionaire Jon Huntsman writes that his success is based on values he learned as a child in the sand box.
  
  
• Thought Leaders
  As Viagra, Cialis, and Levitra battle in the market for ED treatments, Professor David Reibstein looks at lessons about first-mover advantages.
  
  
• Thought Leaders II
  With Boomers reaching old age, Professor Olivia Mitchell looks at pension implications, and the CEO of The Hartford considers "Grey Power" strategies for meeting and maximizing an aging workforce.
  
  
• Senior Management Programs
  On a visit to India, Wharton Fellows ask, "Will we soon be speaking Hinglish?"
  
  
• Wharton Leadership Conference
  Leaders from Patagonia, HP, Wipro, and other companies offer insights on leading with "creativity and conviction."